Guideline Value for Apparao Colony 2nd Street

Apparao Colony 2nd Street guideline value

The current guideline value of Apparao Colony 2nd Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village and falls under the Tambaram Joint 1 SRO. The land classification for this area is Residential Special Type - II.

How the guideline value of Apparao Colony 2nd Street has changed

The guideline value for Apparao Colony 2nd Street has seen several revisions over the years. The earliest recorded figure is from 2012, which was Rs 3,500 per sq.ft. This was followed by a decrease to Rs 2,345 per sq.ft in 2017. The value then increased significantly to Rs 3,500 per sq.ft in 2023, and currently stands at Rs 3,850 per sq.ft as per the 2024 revision. It is important to note that the register has no figures for the years 2002, 2003, and 2007.

In terms of percentage changes, the value increased by 49% from 2017 to 2023 and by 10% from 2023 to 2024. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, placing Apparao Colony 2nd Street above this median.

• Apparao Colony 1st Street: Rs 3,850 per sq.ft (2024)
• Apragamlingan street: Rs 3,850 per sq.ft (2024)
• Aridasapuram Main Road: Rs 1,650 per sq.ft (2024)
• Aristattle Street: Rs 1,650 per sq.ft (2024)
• Anna Street Thirumurugan Street: Rs 2,750 per sq.ft (2024)
• Anna Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Apparao Colony 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value would be Rs 38,50,000. The stamp duty at 7% would amount to Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total to Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Apparao Colony 2nd Street?

The Sub Registrar Office that covers Apparao Colony 2nd Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for further assistance.

How the guideline value is used when you buy or sell in Chitlapakkam

The guideline value is a crucial factor in the registration process when buying or selling property in Chitlapakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When a property is sold, the guideline value helps in establishing a fair price for taxation purposes. Buyers should be aware that the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Apparao Colony 2nd Street?

The current guideline value of Apparao Colony 2nd Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,500 per sq.ft in 2012 to Rs 2,345 per sq.ft in 2017, then increased to Rs 3,500 per sq.ft in 2023, and is currently Rs 3,850 per sq.ft in 2024.

What is the land classification for Apparao Colony 2nd Street?

The land classification for Apparao Colony 2nd Street is Residential Special Type - II.

Which office handles the registration for Apparao Colony 2nd Street?

The Tambaram Joint 1 Sub Registrar Office handles the registration for Apparao Colony 2nd Street, located at No.26, Mes Road, East Tambaram, Chennai-600059.

How is the stamp duty calculated for properties in Apparao Colony 2nd Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, on a property valued at Rs 38,50,000, the stamp duty would be Rs 2,69,500 at 7%.